By 
Madica, an investment programme for pre-seed startups in Africa, has announced an $800,000 investment in four African startups.
These startups have all received $200,000 and would leverage 18 months of Madica’s investment programme, which would provide building support tailored to the unique needs of each startup.
The investment programme would feature a highly personalised curriculum, hands-on mentorship, and executive coaching opportunities with the likes of Yoeal Haile, a co-founder of Sava, according to TECHPOINT.
It would also include a fintech company, as a mentor, as well as two-week fully funded founder immersion trips to key local and global ecosystems, including Cape Town and London.
The main focus was to spur growth, secure follow-up funding, and ensure the long-term viability of the startups.
The four selected startups are:
Medikea: A digital healthcare platform from Tanzania founded by Elvis Silayo and Desire Ruhinda, Medikea combines telemedicine and in-person facilities to provide primary and speciality healthcare infrastructure.
Motherbeing: An Egypt-based startup that provides AI-driven health and wellness solutions for Arab women. Founded by Nour Emma and Yousef Elsamaa, this startup gives AI assistance, educational content, and diagnostic services.
Pixie motors: Founded by Anis Fekih and Wafa Dhifi, offering eco-friendly electric mobility for urban travel and last-mile delivery in Tunisia.
ToumAI: It’s a Moroccan startup founded by Odin Demassieux, Imade Benelallam, and Yousef Rhamani, which uses AI and LLM multilingual voice analytics for broader customer insights and voice solutions. It also recently secured a $1 million investment to fix Africa’s AI limitations.
Since its inception in 2022, Madica, through its programme, had provided structured support for startups to resolve critical issues, providing access to capital, investors and mentorship, fostering innovation, entrepreneurship and wealth creation across the continent.
In its first year, the company supported eight startups after securing six new investments.
Currently, it had exceeded its goal of achieving 50 percent gender diversity in leadership teams, having backed female-led companies across eight countries and six different sectors.
Also, in April 2024, Madica backed three African startups, Kola Market, GoBEBA, Newform Foods, with $200,000 as part of its first investment programme in Africa.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments